Columbia University Libraries Digital Collections: The Real Estate Record

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742 RECOKD .\ND GUIDE December 9, 1922 building program of the coming year will not be ham- labor available for the work in hand and the ability of pered by a restriction of funds. The manufacturers of the railroads to get their lines' so organized that the materials have frequently given assurance during the past weeks that tlicy will be in a position to meet all requirements for materials and supplies. The outstanding doubts as to next year's building ac- tiviiv chiefly concern the amount of skilled and unskilled transportation of materials will not be delayed. If these matters can be settled definitely there seems to be no reason why the coming year should not develop into a period of activity equal at least to the one now drawing to a close. Many Bargains in Country Houses in Suburbs of New York By JAMES G. COFFIN President of S. Osgood Pell & Co. iT BEHOOVES those who are interested in owning their own country homes or estates at prices lower than can pos¬ sibly prevail for some years to come to bestir themselves. This appHes with equal force whether the home desired is merely for the summer season or for all year occupancy; whether the location preferred be Westchester, nearby Con¬ necticut, Long Island or Xew Jersey. Let us briefly analyze the market for modera-te priced houses. Most of the war activities were centered in the East. Nearly all the enlisted men passed through New York City either on their way to or returning from the front. Many were fas¬ cinated with the greatest city in the world and not a few were attracted by the many and diversified opportunities it pre¬ sented. The ending of the war left us with a shortage of housing accommodations of every sort. There had been no building for some years—no increased facilities to take care of the unpre¬ cedented demand. Labor was scarce, inefficient and almost prohibitive. Building materials wasted through the extrava¬ gance of the war were both high and inferior. Spurred by tax exempt laws and by the incessant demand suburban builders vied with each other in reaping the golden harvest. . Everywhere in the less expensive suburbs blocks of single or multi-family houses were thrown together for the eager buyers of homes selling from $10,000 to $18,000. Through various causes many of these houses are now for sale, generally for less than they cost the present owners, although the value of the ground because of the improvements has increased many times. Many ore-war houses of approximately the same size are also in the market. Let us now consider the market for the more expensive places generalh' classified as estates. Westchester along with most sub¬ urban X'ewYork has felt the inactivity of the past season. This is due not to any one cause but to a combination of circum¬ stances. Foreign travel this year has been extensive. The unus¬ ually late summer, with many cold and rainy days throughout the season has made the city homes and apartments comfort¬ ably cool. The general business and trade uncertainties have made renters and buyers of expensive homes overcautious. The increased difficulty of getting satisfactory servants has also discouraged many who invariably seek the country at the first approach of summer. The high prices at which the more attractive country homes have been held were a decidedly deterrent factor. This continued lack of activity and in many cases of even inquiries either for sale or rent has reduced the prices to such an extent that the market is full of real bargains. Surplus of Steam Coal But Shortage of Domestic Sizes Now that the winter season is actually here, although the weather continues mild, there has been a revival of interest in the coal situation, due largely to reports of shortage in domestic sizes in Brooklyn and the Bronx. Inquiry by The Record and Guide at the office of Fuel Admin¬ istrator William H. Woodin brought out the statement that there is an actual shortage of the domestic sizes of anthra¬ cite, meaning egg, stove and nut, and that there will continue to be a shortage for several months, for the reason repeatedly set forth that only about 60 per cent, of the usual output of anthracite will be or can be mined this winter. Steam coal used in apartment houses and office buildings is anthracite of the No. 1, 2 and 3 buckwheat sizes and of this there is a surplus in Xew York City and the adjacent docks and railroad jards. On Monday of this week there were 1,171 cars of buckwheat averaging 40 tons each, nearly 50,000 tons stand¬ ing in the yards for which there was no demand. This supply was in addition to a large quantity in cars "on order," sold but not delivered. A few weeks ago there were about 3,000 cars of buckwheat at the terminal but the Fuel Admini.'itiator has induced many consumers to take m.ore than their routine needs demanded so ns to cut down the surplus and return the cars for other shipments. In addition to the buckwheat still loaded on railroad cars there were, last Monday, between 250 to 300 boat-loads of buckwheat in the harbor, each boat averaging 500 tons, or between 125,000 to 150,000 tons of steam coal for which there are no orders. Small house owners and those still using coal cooking stoves will have to use substitutes for anthracite up to about 40 per cent, of their necessities all winter. Both Fuel Commissioner Wooden and Mayor Hylan have issued statements pointing out the danger of trying to rely on the regular sizes of anthracite for domestic purposes and urging the use of substitutes so hardships may be avoided. Fuel .\dministrator Woodin explained that it had been found difficult to fix retail prices for coal owing to the great diflfer¬ ence in prices charged at the mines. He declared that buck¬ wheat sizes should range from $8.20 to $10.50 per ton and urged those householders who were charged more to report the facts in writing to the fuel administration so an investiga¬ tion could be made. The price for anthracite depends on the price at the mine, wliich also varies greatly. Every case has to be considered separately by the Fuel .Vdministration which aims to keep the profits of local dealers at the same ratio pro¬ portionately as before the strike. The Fuel Administration urees all citizens who have evidence of profiteering to report such cases so they may be investigated. Prices of domestic sizes at the Philadelphia & Reading Company's mines have been advanced about 20 cents a ton, making the price for stove and nut $6.30 a ton and S8.30 for other sizes. To these prices must be added freight to Xew York and profits of local dealers. Board of Aldermen Adopt 1923 Budget Totalling $353,350,975 THE Board of Aldermen on last Monday adopted by a vote of 44 to I the 1923 budget without any changes in the items as it came from the Board of Estimate and Apportionment. The budget carries appropriations of $353,- 350.975. Last year the final figures were $350,238,420, after the Board of Aldermen had cut the Bronx totals $177,610 and the Richmond totals $100,494 to bring their quotas within the 2 per cent, of the assessed valuations. The new budget there¬ fore is greater than that of 1922 hy $3,112,555. The budget must now be certified by the Mayor, the Comptroller and the City Clerk before December 25, filed in the Comptroller's office and published in the City Record.